Gary North, Doug Casey, and the Goldbugs

Written up with some distain but great interest in the New York Times Magazine. Says Stephen Metcalf:

“To a small but extremely avid subculture in the American financial community, gold doesn’t mean bling, or King Midas, or them thar hills. Gold is money; and not just money, but the one true money. The gold subculture divides along several lines — some of its members are gold speculators, some gold hoarders, some gold philosophers and some outright nut jobs — but it unites behind a single idea: Paper money issued by governments, when not redeemable for actual gold, is fraudulent. Most of us accept the existence of dollar bills unconsciously. To the gold faithful, however, a dollar bill is ‘ink money,’ or better yet, ‘fiat currency,’ a nearly constant term of abuse at gold conferences and in gold chat rooms.”

Read the rest, and thanks to June Morrall for the link.

The Best of Llewellyn H. Rockwell, Jr.